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A Recession Within A Recession

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Recession - Public DomainOn Friday, the federal government announced that the U.S. economy contracted at a 0.7 percent annual rate during the first quarter of 2015.  This unexpected shrinking of the economy is being primarily blamed on “harsh” weather during the first three months of this year and on the strengthening of the U.S. dollar.  Most economists are confident that U.S. GDP will rebound back into positive territory when the numbers for the second quarter come out, but if that does not happen we will officially meet the government’s criteria for being in another “recession”.  To make sure that the numbers for Q2 will look “acceptable”, the Bureau of Economic Analysis is about to change the way that it calculates GDP again.  They are just going to keep “seasonally adjusting” the numbers until they get what they want.  At this point, the government numbers are so full of “assumptions” and “estimates” that they don’t really bear much resemblance to reality anyway.  In fact, John Williams of shadowstats.com has calculated that if the government was actually using honest numbers that they would show that we have continually been in a recession since 2005.  That is why I am referring to this as a “recession within a recession”.  Most people can look around and see that economic conditions for most Americans are not good, and now they are about to get even worse.

For quite a while I have been warning that another economic downturn was coming.  Well, now we have official confirmation from the Obama administration that it is happening.  The following is an excerpt from the statement that the Bureau of Economic Analysis released on Friday

Real gross domestic product — the value of the production of goods and services in the United
States, adjusted for price changes — decreased at an annual rate of 0.7 percent in the first quarter of
2015, according to the “second” estimate released by the Bureau of Economic Analysis. In the fourth
quarter, real GDP increased 2.2 percent.

The GDP estimate released today is based on more complete source data than were available for
the “advance” estimate issued last month. In the advance estimate, real GDP increased 0.2 percent.
With the second estimate for the first quarter, imports increased more and private inventory investment
increased less than previously estimated (for more information, see “Revisions” on page 3).

The decrease in real GDP in the first quarter primarily reflected negative contributions from
exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from personal consumption expenditures (PCE), private inventory investment, and residential fixed investment.

And actually, Q1 GDP would have been far worse if not for a very large inventory buildup.  Without that inventory buildup, Q1 GDP would have been in the neighborhood of negative three percent according to Zero Hedge.  Despite the happy face that most analysts are putting on these numbers, the truth is that they reveal some deeply troubling trends.

One of the things that is driving this current downturn is the fact that our trade balance continues to get even worse.  In other words, the gap between how much we buy from the rest of the world and how much we sell to the rest of the world is growing.

During the first quarter, imports surged by 5.6 percent.  That means that we are buying more from the rest of the planet than we did before.

Unfortunately, during the first quarter of this year exports dropped by a staggering 7.6 percent.  That means that the amount of stuff that we are selling to the rest of the planet is falling precipitously.

When our trade deficit expands, we lose jobs, businesses and economic infrastructure at an even faster pace.  This is why I write about trade issues so much.  Our economy is being absolutely eviscerated, and the Obama administration is pushing another giant trade deal which will greatly accelerate this process.

We are committing national economic suicide by running colossal trade deficits year after year.  But instead of addressing our problems, our “leaders” just continue to conduct business as usual.

And to make themselves look good, they just keep manipulating the numbers until they seem “reasonable”.  As I mentioned above, the negative number for Q1 is causing a lot of consternation in Washington, so now the Bureau of Economic Analysis is going to modify the way that GDP is calculated once again.  The following comes from Bloomberg

The way some parts of U.S. gross domestic product are calculated are about to change in the wake of the debate over persistently depressed first-quarter growth.

In a blog post published Friday, the Bureau of Economic Analysis listed a series of alterations it will make in seasonally adjusting data used to calculate economic growth. The changes will be implemented with the release of the initial second-quarter GDP estimate on July 30, the BEA said.

Although the agency adjusts its figures for seasonal variations, growth in any given first quarter still tends to be weaker than in the remaining three, economists have found, a sign there may be some bias in the data. It’s a phenomenon economists call “residual seasonality.”

Why can’t they just give us honest numbers?

Meanwhile, we also learned on Friday that corporate profits declined again during the first quarter of 2015.  This was the second quarter in a row that we have seen this happen.  The following comes from CNS News

The BEA report also released data on corporate profits, which showed a decrease from the previous quarter. ‘Profits from current production decreased $125.5 billion in the first quarter, compared with a decrease of $30.4 billion in the fourth,’ BEA said.

Can you guess the last time that corporate profits declined for two quarters in a row?

It was in 2008.

So many of the exact same red flags that popped up seven years ago are popping up once again.

I know that I must sound like a broken record, but right now there are more signals that another major economic downturn is approaching than there has been at any other time since I started The Economic Collapse Blog in 2009.

Hopefully this summer will be relatively quiet, but I fully expect for events to start accelerating significantly during the second half of this year.

So if you have things that you need to get done before the next crisis arrives, you better hurry up, because time is quickly running out.

  • DesertPaine

    Harsh weather in Jan-Feb-Mar. Who knew. That’s never happened before.

    • Mike Smithy

      Yep. With the exception of the Boston area, last winter was quite mild for the rest of the U.S.

      • DesertPaine

        You’re right, Mike. But don’t you know that BO would say with a straight face that 90% of the GDP for those months just so happened to be in the Boston area.

    • AzDi

      I’m actually surprised they didn’t call it “climate change”.

  • Mike Smithy

    “A recession within a recession” is very quaint term . In a parallel universe, they would aptly call it what it is: DEPRESSION.

    • AzDi

      I totally believe we have been in a “sort of depression since 2008. Instead of “soup kitchens as in 1929+, we have food stamps and free box food from all the churches, etc. 50% in poverty. But then we have the “stock market” rich people. Well, I bet that will be another 1929 or so for them.

      Middle class ….. no where. Struggling every day to pay the bills and buy food that is totally out of control! So… government continues to fake the numbers, and those of us who pay attention know exactly what is going on.

    • MichaelfromTheEconomicCollapse

      Indeed.

    • Mondobeyondo

      That’s exactly what this is. A depression.

  • Orac4Prez

    “Baltimore Has Descended Into A State Of Lawlessness – And More Cities Will Soon Follow”

    Just think of all the reconstruction activity that will ensue after those buildings that were accidentally “razed to the ground” by arson are replaced. That should increase economic activity! And you people thought Obama didn’t have a plan for your country!!!

    Seriously though, one bright spot in Obama’s plan with the trade deal is if he/the negotiators get a meaningful inclusion of intellectual property. The Chinese economy was given an enormous kickstart at the start by US money and technology transfer. All of that paid for by the blood sweat and tears of the workers at all levels in the US economy.

    A lot of the goods produced today are knock offs of products produced in the rest of the world. The Chinese don’t pay anything for them and trying to enforce the laws in China are a joke. If I sell you a stolen items of course I can sell it more cheaply than the person who solved all the problems and spent time developing a market.

    Some may be cheering the demise of the US, but to those people there is one truth they need to consider. If the US (and the western nations) don’t supply all the humanitarian and economic aid, who will! China’s aid always comes with strings (or should I say massive cables) attached.

  • Genada

    The trade balance is devastating and it’s only going to get worse. The dollar going up should help lower it but that’s being off set in a larger way by our exports going down. At the moment were losing the currency wars.

    Commodities are all being hammered and it’s hard to say your in any kinda of recovery when the price of commodities is in free fall due to lack of demand.

    Baltic Dry Index and all transports are being hammered as well once again due to lack of demand. All things that can not be happening in a good economic environment.

    Playing with the numbers is all they got left. Attempt to make things look better in a effort to spur people to spend more. The problem is tho that people are tapped out and there’s no wage growth. So without credit growth or wage growth the economy stalls.

    The other problem is that business is not reinvesting the money into their companies. It’s all going to buybacks and dividend payments. That’s been the biggest sign of how phony this recovery has been. If a company is refusing to reinvest in expanding it’s because it sees no where to grow profits from doing so.

    • Phenol

      These are good points and a good summary. Whats stunning is that Donald Trump is the only national personality that talks about all of this. Perot talked about it with that giant sucking sound comment. At this point this has to be deliberate and intentional at the policy level, to destroy everything like they are doing. I wish more national folks would address all of this like Trump.

      • John Byde

        We’re sleepwalking towards the abyss. Twas always thus. Anyone who speaks out (e.g. Churchill in the 1930s) is cast out.

        • We quit walking toward the abyss years ago NOW we are running full speed ahead with blinders on.

        • jsmith

          Interesting that you should bring up that drunkard Winnie Churchill who was more concerned about his own skin and destroyed the “British Empire.” When the “evil Fuhrer” was elected in Germany he brought down unemployment to almost zero while England and the United States in particularly under “Red” Rosenfeld, excuse me, Roosevelt, sank America into a deeper depression. But of course, the International banksters and the tribe couldn’t allow a rogue Germany thriving just like the same parasites and termites are shafting us Americans now.

      • Sandbagger

        Andrew Wilkow of the Wilkow Majority radio show talks about it.

      • Nemnor

        Donald Trump may be “rational” (to many), and he is one of the few Capitalists I actually admire very much (and say so to my Children).

        The likes of Donald Trump and Robert Kiyosaki SEEM to want everyone to have the “abundant” live (i.e. basically, to be “rich”/”wealthy” in every (positive) way we may imagine true richness/wealth to be).

        However, what the likes of Donald Trump do not seem to realize, is that it was never (and never will be) possible for every “rational” individual to have the “abundant” life in a Capitalist economic system (“true”/”real”, “free market” or not). The reason being that, by the very NATURE of essential Capitalism (in any form), wealth must continually concentrate into the hands of a FEW (“the 1%”), and often at the great detriment (i.e. varying degree of slavery) of the mass of people (“the 90%”) – who must remain at a sub-standard (i.e. less than “abundant”) level of existence, and even with increasing millions living in abject poverty. Again, such is the very NATURE of (essential) Capitalism in ANY form.

        There are those who say something like the following – “…despite what one may say about Capitalism, this is the system that moved millions of people “out of poverty”, more than any other system in history…”.

        Well… of course this is true about Capitalism. Capitalism WAS (in the past) indeed a progressive improvement for the Human Race, as it moved the world away from a Feudal/Agrarian economy (which was in itself an improvement from the previous “slave-based” economy), to generally a Capitalist economy.

        However, the genuinely progressive period of Capitalism is long gone. The system is now decadent (due to reaching a stage of general over-production) and Capitalism can no longer generate long-term recovery by economic means alone, and hence, the main reason there are increasing millions going below the “poverty line”, and more people sinking into abject poverty, even while the (super) rich get richer.

        So even though one may point out the “magnificent” advances experienced under Capitalism (in all it’s forms – including what is erroneously labeled as “socialism” or “communism”), essential Capitalism (in any form) is ultimately an unsustainable system, and was always “destined” to become decadent (and this is what many people are not yet aware of).

        • GSOB

          Wrong again.
          It is sin in people that makes them sinners!
          Anything sinners do in subservience to the sin, eventually leavens the entire lump.
          No matter what socioeconomic system you have in place,…. if sinners are left to themselves, they’ll corrupt it and it won’t last.
          Capitalism operating within a free market society, as the best socioeconomic system ever, is not immune to a sinners sin.
          I hope you understand.
          You keep pointing out all your fault finding with capitalism yet, you don’t understand the real problem with mankind.

          • Nemnor

            GSOB, I showed you the error of your own logic before, and I will show you again as follows (please follow carefully to see the “weakness” in your thinking)…

            Now, in your view “sin” is the main cause of our societal problems. I.e. that the Human Being himself/herself is the main root of the problem – because of “sin” (as you put it) (right?)

            Now with “sin” or Human “fault” as a given constant (in your view), you then stated – “…Capitalism operating within a free market society, as the best socioeconomic system ever…”

            AND, still with Human “sin”/”fault” as a given, I am ALSO agreeing with you that – Capitalism WAS indeed the “best socioeconomic system ever”. That Capitalism did move more people out of poverty more than any other economic system in our known history (and, again, Capitalism did all that while Human “sin”/’fault” – as you see it, was ALWAYS present). (right?)

            Now, still with Human “sin”/”fault” as a given (and as you view it), I am now saying that – despite all the “magnificent” advances made under Capitalism, the system is now ALREADY passed it’s genuinely progressive period. That Capitalism is now DECADENT (due to reaching a stage of general over-production), and is now NOT able to generate long-term recovery by economic means alone.

            And, by extension, since Capitalism has already passed it’s progressive stage, and still with Human “sin”/”fault” as a given (and as you view it), I advocate a fundamental change away from Capitalism, to a sustainable alternative system that addresses the abundant needs of the “rational” individual (and not just of “the 1%”).

            Now you may argue that – “Capitalism has not passed it’s progressive stage”. But I look at the 500-years history of Capitalism, and especially the last 100 years or so, to confirm my case (TWO world wars and a series of recessions (or depressions) and about 65 major regional wars and the constant decline of society over the past 40 years and finally, the state of general over-production, are enough confirmation for me). It WAS indeed the same “free market” Capitalism that NATURALLY (and inevitably) DECAYED into it’s various forms that you label as “corporatism”, “socialism”, “crony capitalism”, “communism”, etc. – they are ALL Capitalism in it’s ESSENTIAL form.

            But coming back to your own logic – just as Capitalism WAS indeed the “best socioeconomic system ever” (and even while there was Human “sin/”fault” – as you view it), I am saying that, as Capitalism is now DECADENT, it is time to REPLACE Capitalism with a sustainable alternative system that addresses the abundance needs of every “rational” individual. AND, Human “sin”/”fault” (as you view it) should not prevent a NEW and better system away from Capitalism, just as Human “sin”/”fault” did not prevent Capitalism from being the “best system ever” – compared to all the known previous economic systems. (right?)

            I posit that what I advocate would (eventually) be sustainable, because I have faith in the “collective intelligence” of the Human Race to solve virtually any problem, IF given a GENUINE democratic environment. Plus, I am convinced that – the LACK of TRUE “abundance” for EVERY “rational” individual, is a main root cause of Human “weakness” – which you view as “sin”/”faults”. That Scarcity (apparent or real), along with the perception/fear that “there is not enough to go around”, ARE main roots of much “evil” – and decadent Capitalism, by it’s very NATURE, needs to generate “scarcity” in order for the system to “function” in the best interest of “the 1%”.

          • GSOB

            I’m sorry. You are not a believer in Christ. You have indicated that yourself.

            Although you say you agree, in reality… we disagree. You are coming to put out the fire with an empty bucket.

            I’ll just have to tolerate you and nobody.

            Perhaps nobody will join forces with you.

            As for me – continuing on with you on your waterless clouds has now come to an end.

            I lift you up.

            Now I should abide by the following:

            2 Corinthians 6:14-18
            Thanks

    • T.

      A very good summation of the present economic funk.

      Question: Where are the national leaders on FOX; CNBC; ABC; MSNBC; CNN; et al, who are directly addressing these very issues and Providing sound economic solutions to fix them? Nowhere to be found.

      America is a fast sinking ship – Not at all unlike the Titanic.

      • nobody

        No, it’s not like the Titanic – on that ship most of the passengers knew that she was sinking.

        • algol2000

          How are the laws, the executive and the judicial decisions panning out so far? When people remove themselves from God’s laws, they can only stumble into darkness.

          • El mico

            WTF does god know about economics?

          • algol2000

            You will soon find out.

          • Tom

            Amen

          • El mico

            And won’t you be disappointed.

          • GSOB

            Only in you.

          • alan

            I seen it stamped on the money, no one reads the fine print anymore.

          • El mico

            Like it would be advertised.

          • GSOB

            More than you do.

          • nobody

            They are just fine for those that issued them. Removing ourselves from God’s laws has no effect whatsoever since those laws, just like the god to whom they are attached, don’t exist to begin with.

          • algol2000

            Look at the one dollar note and tell me what you think about the eye on top of the pyramid. Do you really think that these people make laws that originate from them and for the benefit of all of society?

            What do you think about the obelisks and freemasonic symbols in Washington DC? The evidence is all over the place, if you care to pay attention, that the supernatural world is real. And if this is the case, God is real.

          • nobody

            I think nothing on them since old symbols of long expired cults don’t affect me in any way. Unfortunately your god and his cult still affects me every day so i will keep exposing it as the scam it is until it lands where it belongs, in the trashcan of our society.

          • algol2000

            “I think nothing on them since old symbols of long expired cults don’t affect me in any way”

            If that is the case, then the symbol will not be on your one dollar note.

          • nobody

            Why not? They have a significant historical meaning, just like the quote with the god. Or are you trying to tell me that you don’t actually trust this god?
            BTW since there is no Satan those cults are as useful as yours.

          • MIke

            You’re a perfect combination of arrogance and ignorance.

          • nobody

            Nah, i’m just a sane person, without your severe delusions.

          • GSOB

            Honor your parents.
            I’m sure they would like to be proud if they were here to see what you think about God.
            You need to clean up your act.

          • algol2000

            You ignore evidence and declare “There is no satan”. If the symbols on the one dollar note and the obelisk in Washington DC are irrelevant, they will not be there. How can you be a good judge when you ignore evidence?

          • nobody

            I don’t ignore them, i simply reject your delusional interpretation of them.

          • algol2000

            Then, tell me what do you understand by these symbols:

            1. All-seeing eye at the top of a capstone detached from the pyramid on the one dollar note.

            2. Obelisk near the white house in washington dc.

          • nobody

            1. a masonic symbol, put there because most of the founding fathers were masons, to remind us of our origin.
            2. a monument inspired by ancient Egypt, selected because it’s imposing, has a a very visible presence, and with modern technology it has been made even bigger than the originals, like the one in Paris – which has in itself another symbolic meaning.

          • algol2000

            Good answers. My comments:

            1. Meaning, the people who control this currency are all freemasons, and this is a stamp of their authority. Freemasonry has degrees, do you care to know that the detached capsone signifies an elevation, a detachment from the ‘masses’ of lesser degree, and illumination that sees all that goes on under the sun? In other words, the echelon of gods.

            2. The monument that you speak of is a tribute to the sun god, sunce ancient egypt. The monument is another mark of the freemasons. A tribute to the ‘angel of illumination’.

            The practice of freemasonry is a religion, a belief in a supernatural world. If such is the case, then who controls this supernatural world?

          • nobody

            1. No, it doesn’t, it’s just a historical reminder, just like the pictures of the dead presidents, nothing more. BTW masons are pretty much dead nowadays, they are as obsolete as a buggy whip.
            2. No, it’s just a monument that looks good and gives a sense of power, exactly what’s desirable for the monument of the founder of a country.
            No one, since there is no such thing as a supernatural world.

          • faithandhonor

            Do you really have to be so insulting to him? How rude. His replies to you have been entirely civil. GROW UP AND LEARN SOME MANNERS, CHILD.

          • nobody

            He is insulting to the rest of us by trying to impose his obsolete beliefs. So GO BACK TO YOUR ROCKING CHAIR AND SHUT UP, OLD MAN, YOUR TIME HAS PASSED.

          • John Austin

            Better yet read the words on front of the note. “this is legal tender for all debts. public and private” In other words, in one hand and out the other. This game has been against society from day one. And until society wakes up. Here it is. enjoy.

          • algol2000

            I am referring to the symbol, not the words. The stamp of authority of the owner of the note is the symbol therein.

          • GSOB

            The ‘law’ of sin and of death operates in you. A law you can not defy.
            Now, where did that come from?
            If there is no God, explain where it comes from? You can’t deny that you will die.
            So without God in your world, you are indeed to be and should be most miserable.
            Where does the law of sin and of death come from. It’s in you – you know, nobody.

        • most of those on the Titanic believed the story that it was unsinkable up until their state rooms started to flood or the angle of the ship got so bad dishes would not set on a table. ONLY then did they try to abandon ship seriously.

          • Max

            And by that time the violinists were already on the top deck playing sweet symphonies and “Orpheus” I believe, to keep the masses “calm”. Looks disturbingly familiar to real life

          • Nemnor

            EXACTLY!!!

            An in the similar fashion with which people of the (old) Roman Empire used to attend the arenas to get their ‘fix’ (entertainment) , while Rome was (eminently) approaching it’s last days.

            The way Americans pay attention to “Sports” and “Entertainment” (while the USA continue to sink), would give most people the IMPRESSION that things are generally “well and OK” with the USA.

        • Flippah

          nobody is your pic my favorite actor Ernest Borgnine AKA Jonathon Corbus?

          • nobody

            No. Hint: my name is nobody.

          • Flippah

            Possibly Reagan MacNeil from The Exorcist? “I am no one”?

          • nobody

            Again: “my name is nobody”.

      • Genada

        Truth is the enemy in the empire of lies. That’s where our national leaders stand.

        The media is owned by a small number of people and they depend on revenue from people that are advantaged by the current system. So they are not very interested in telling the truth or probing whatever the current narrative is.

        Right now we have a perfect example of how the system works in the Hastert story. He’s being taken down for allegations of sexual misconduct but there’s very little being said about his clearly corrupt deals. The reason is of course the fact that once someone begins to look into it, they realize that it’s not just him it’s everyone. The truth threatens the system, so it’s buried or made very opaque.

        The economy is the same. Report the headline numbers, never look just below the surface. To do so would raise too many questions that have answers that would threaten the system if probed.

        • Catman

          Great points. “He’s being taken down for allegations of sexual misconduct but there’s very little being said about his clearly corrupt deals. The reason is of course the fact that once someone begins to look into it, they realize that it’s not just him it’s everyone.” I think one factor that has influenced a different activity in his life is the recent guilty plea by five huge banks of foreign exchange manipulation. They have been fined $5.8 Billion, which is nothing for the five, and no other punishment is coming for their criminal behavior. The day after the judgment was announced one couldn’t even find reference to it on CNBC of all places. Talk about being made to shut up. Therefore, to make Hastert look guilty of something really bad that won’t be resolved by a fine they have moved to these allegations of sexual misconduct. The sleaze factor won’t be as readily wiped off as defrauding investors out of $ millions. That’s evidently not so bad…

        • Nemnor

          EXCELLENT! you ‘Genada’!

          Also, focusing on “sexual misconduct”, has the added “benefit” of patronizing to a seemingly growing number of modern-day “Feminists”, to help give them the IMPRESSION that the “system” is in some ways looking out for them (while the system continue to be bad for real women and men alike).

      • Mondobeyondo

        Obama’s plan to fix the economy:
        Take another vacation, and play a few more rounds of golf.

        • Max

          Same thing Bush 2 did, same thing Clinton did and the same thing the next “face” they put in front of us will do. That position is nothing more than a mid-level manager or Director’s role. The sooner people stop electing people into office, and wake up to the farce, the sooner they will be truly free.

          • Catman

            I don’t want to, but I have to agree with a lot of that.

          • Max

            I didn’t want to either, unfortunately its right in front of our faces.

          • Nemnor

            YES!!!

            The USA is a 2-Party Dictatorship and this is just a MINOR part of a much wider and more fundamental reason why things will continue to get worse in the USA (and virtually everywhere in the world)

          • Max

            Funny you say “dictatorship” because I used that same word to somebody who worked in the government a few short years back and the wide-eyed look of disbelief was priceless.

      • Siloo Kapadia

        Exactly! That is why many are getting off!

    • MichaelfromTheEconomicCollapse

      Well said Genada.

    • John Byde

      Astute and perceptive comment

    • SunnyFlaSnotress

      “The trade balance is devastating and it’s only going to get worse. The dollar going up should help lower it but that’s being off set in a larger way by our exports going down/
      How does a strong dollar help lower the trade balance? To my knowledge it only discourages others from buying our exports. Nonetheless, dollar strength is not the only factor in trade balance. There’s other types of considerations like.. what kind of products we export, our work volumes, etc
      “without credit growth or wage growth the economy stalls”

      Do we want to give more credit to those who typically don’t pay back as has been the overwhelming case?
      What I’m seeing successful companies do at the current time is takeovers.. which is not always a good thing as it often means layoffs at the absorbed company.
      I can’t help but think you people are rating with emotion vs intellect for the most part.

      • Genada

        In theory a stronger currency allows you to buy more with your stronger currency. So if your total amount of imports stays the same the price payed goes down which should help to reduce the trade deficit unless of course the stronger currency reduces your exports by a greater amount then saved.

        I am not suggesting that we should give credit to those that can not pay, I am only pointing out that without wage growth or credit growth the economy stalls.

        As far as takeovers and mergers go, a large portion of that is being done with a very high amount of leverage and reflects the ability to get ultra cheap loans. As far as the outcome of these deals, only time will tell. The lay offs of course are tragic to the employee but it’s overall effect on the economy can not be know till later. Those lay offs tend to be due to redundancy and the elimination of them tend to add efficiency to the company and be improve profits for the now joint company.

        • Nemnor

          Again, very good understanding, you ‘Genada’!!

          However, while you seem to (still) be at the “speculative phase” as to “how things will EVENTUALLY turn out” with the “…takeovers and mergers…” and “…lay offs…”, (and saying that the lay offs “… tend to be due to redundancy and the elimination of them tend to add efficiency…” does make you appear like an “apologist” for the system – and you may or may not care that you appear so or not), I now ask you to consider the following, to see that we can indeed “KNOW” (to a very high degree of certainty) how things will turn out….

          Consider that the past 2 or 3 economic “Recoveries” in the USA were WEAK (at best) and only lasted for a FEW years. Additionally, the “Recoveries” were also JOBLESS!!! – meaning, the US Capitalist economy “recovered” but WITHOUT significantly bringing down the REAL unemployment rate and by replacing jobs with “living wage” with more and more low-wage jobs.

          So the new reality is that “recoveries” are jobless and are now lasting for fewer and fewer years. So anyone can see that this is clearly a DECLINING economic system (right?)

          Additionally, the aim of virtually every major Capitalist company is to REDUCE the work force as much as they see fit to increase profits. With virtually EVERY corporation doing the same, you have a relatively SHRINKING workforce with less and less disposable income. Such a trend is clearly unsustainable. (right?)

          So, despite the various “economic measures” taken in the past, the system is still declining and more people are sinking below the “poverty line”. Hence, with the same/similar “economic measures” taken by governments and central banks TODAY and with the same/similar corporate “down-sizing” done TODAY (like in the past), it does not take a “rocket scientist” to see how “all this will turn out” – how history will REPEAT itself. (right?)

          There is really NO need for anyone to speculate how “all this will turn out” with the USA. History already shown to us how things WILL (very likely) turn out. The question is what will WE do about it? Continue to “speculate” and hope for the best? OR, are we ready to make the fundamental change we can very well see is needed, to save the USA (and the World)?

          • Genada

            History has and your not going to like the answer. Japan is the model case for the course we are now on. Ever slow grind down for the majority. The rich and connected getting more and more wealthy.

            The fundamental change you want, socialism is not the answer. The solution remains capitalism.

            It’s not a failure of capitalism that we face. It’s a failure of having a rule of law and a failure to follow capitalism. Capitalism requires pain at times and capitalism requires failure. We are not accepting either. We are always attempting to stop both and attempting to paper them over with debt.

          • Nemnor

            Genada, thank you for your reply.

            However, you do not (yet) have right knowledge and understanding of the true root cause of the major issues facing the USA and the World, and hence, you will not (yet) be part of the solution. I can safely say that virtually ALL of the Politicians and Central Bankers read much of the SAME books you read, and have more or less the same conclusion (and conviction) about “real” Capitalism and the “rule of law” as you do. Yet, the USA (and the World) will continue to sink, because like you, they all miss (or ignore) the main root cause of the issues facing the World.

            However, the matter is indeed a complex one. The fundamental change I advocate can NOT be accurately labeled at this time (I can not say it IS “socialist”, or NOT “socialist”). Contrary to what you believe, for the past 500 years (or so) of the existence of Capitalism, the World NEVER (and probably could never have) experienced a GENUINE “socialist” or “communist” society, from which we can draw ACCURATE reference from, and KNOW what works and what would not work.

            Additionally, a fundamental change away from Capitalism, would necessarily be experimental, exploratory, transitory and even with a number of contradictions, BEFORE we can KNOW what really works and what would not work. However, I have faith in the “collective intelligence” of the Human Race to find solutions to virtually any problem.

            However, we can probably draw some “lessons” from those who SEEM to want to fundamentally move away from Capitalism (but NEVER could have done so, as it is virtually impossible to have “socialism” in one country, while the World is dominated by Capitalism, and with powerful countries like the USA doing everything in it’s power to prevent any country from fundamentally moving away from Capitalism).

            Though we can “collectively” solve virtually any problem (if we want to), Capitalism has reached it’s decadent stage and is now NOT fixable – due to the internal contradictions of Capitalism itself, as it now reach a stage of general over-production. Any “fixing” of Capitalism means we are simply repeating history, AND, we are UNLIKELY to survive another World War.

            For the last 500 years or so, ALL we had was Capitalism (in it’s essential form), but labeled variously as “corporatism” or “socialism” or “fascism” or “communism” or “crony capitalism”, or “state/collective capitalism”, etc.- all these being DECADENT forms of Capitalism. But it is Capitalism nevertheless, since the economy in all of these was/is still essentially private and/or state ownership of the means of production and distribution of goods and services, with the primary end-purpose of generating profits (surplus value), through employing/enslaving the labor/efforts of Workers/People.

            Additionally, even if people (including some in this blog) were to realize that what they refer to as “socialism”, etc. was/is really a decadent form of Capitalism, they tend to believe that there is a “real”/”pure”/”free market” Capitalism to go back to, while NOT realizing that it was the SAME “real”/’pure” or ‘free market” Capitalism that NATURALLY (and inevitably) decayed into it’s various decadent forms. Many do not realize that the “interventions” of Governments and Central Banks are NOT the main cause of the current economic issues. Rather, Governments and Central Banks are really responding (reacting), in a VAIN attempt to “save” (they hope) the ALREADY decayed and decaying Capitalist economic system.

            So, (again) what is missed by many is this – the genuinely progressive period of Capitalism is long gone, and we can NOT go back to “real” Capitalism by simply having a “rule of law”. Just like a “rotten banana” would not go back to being a “fresh ripe banana”, to save the USA and the World, we need a fundamental change away from Capitalism to a sustainable alternative system that addresses the abundant needs of the “rational” individual (and not just of “the 1%”).

            Time will prove me correct (assuming the Human Race even survive, as there will be the ever increasing prospect of WW-III under decadent Capitalism).

          • GSOB

            You are dead wrong. You need to think outside the box and try to see the big picture……
            God is in control.
            Mankind is in darkness under Satanic captivity. You are like a worm at the bottom of a garbage can. (Maggot)

            Dust in the wind. All we are is dust in the wind.

            You need Christ.
            Apart from Him, you can do nothing of eternal value.

            You do not see your own sin. Sin is the problem, not capitalism.

          • Torn Frequency

            I agree with you on most points, but not on the part that you say that we are not accepting the pain. The pain and the burden is now carried by society thanks to gangster gov and corporate lobbying, and crony banksterism. The only reason why “capitalism” in my opinion is not working is because of the trend, that dictates profits above all else. If a ceo earns a yearly bonus that is so large that they could keep a employee working for over 500 to 900 years, then i feel there is something seriously wrong with that picture especially when most people lost their jobs so the ceo and the stock holders get a even higher return(and the ceo a larger bonus) something like that is unhealthy and destroys any nation from within in a grander picture of things. Don’t get me wrong, i agree with you about capitalism, that failure needs to be acknowledged together with the pain, but to me capitalism also needs a wee bit more humanity in it ;O

          • GSOB

            We’ve heard the ‘change’ pitch before. What is it now that you suggest to be implemented?
            There is nothing new under the sun.
            You may have people to agree with you, not me, but you blog here to garner support for your views but still, you can not think of anything to replace it…..

            So, continue to complain all the time – yet provide no solutions. Like a scratched record that keeps on skipping.

            There is time left for you. Time to repent.

          • Nemnor

            GSOB, this is a complex matter, but there are a LOT of details to go along with what a fundamental change would include. It is too much details to put in this blog.

            I am indeed thinking of what more I can do. Probably my own website, along with an (epic) new Book – that will (hopefully) “shake the World” into a new awareness? By the grace of “The Universe” (“God”), a book that would become a “blue print” (guide) for the sustainable future of the Human Race?

          • GSOB

            Warning from the bible about Non-Christians

            2 Corinthians 6:14-18Living Bible (TLB)

            14 Don’t be teamed with those who do not love the Lord, for what do the people of God have in common with the people of sin? How can light live with darkness? 15 And what harmony can there be between Christ and the devil? How can a Christian be a partner with one who doesn’t believe? 16 And what union can there be between God’s temple and idols? For you are God’s temple, the home of the living God, and God has said of you, “I will live in them and walk among them, and I will be their God and they shall be my people.” 17 That is why the Lord has said, “Leave them; separate yourselves from them; don’t touch their filthy things, and I will welcome you 18 and be a Father to you, and you will be my sons and daughters.”

    • Annoyingandlovingit

      Then stop voting in criminals.

  • grumpyhillbilly

    The weather…huh? Shouldn’t the artic cold of the northeast and the snow in Boston have been a boon to the economy? Broken windows galore. Who knew Keynesian economics didn’t actually work?

    Then it seems the neocon scheme to sink Russia by flooding the market with Saudi oil wasn’t actually thought out. Trash your only bright spot of the economy. I am waiting with baited breathe when the talking heads figure out cheap labor can’t afford to buy things. Or trade deals impede our growth. If the crash weren’t going to be so ugly, it might be comical to watch it unfold in a dark humor kinda way. Instead it will be tragic.

    • T.

      “cheap labor” will be the “new middle class” of the future.

      • alan

        In the South we should be able to under cut Red Chinese labor costs.

      • Torn Frequency

        “cheap labor” or rather.. the “Middle below class” or.. even.. “The what we call this class, which is actually the slave class” ? 😛

    • John Byde

      So on one hand they blame the cold weather for ruining the economy; on the other they blather on about global warming and pack their suitcases for the next “climate change” beanfest.

    • Torn Frequency

      Didn’t the sauds take over a lot of US oil and fracking companies after they tried to sink Russia? seems to me they had a win win situation going..

  • John

    On two recent trips in the deep south (i.e. so far south that the winter weather was irrelevant), I was amazed at all the closed small businesses in town after town.

    • alan

      I claim north Florida as home, not Alabama. The collapse hit hard here in 2008. Even in the boom it really wasn’t booming much. Its getting bad now, copper wire theft is bad now, well all theft is bad now also scams and shady businesses, its really like the third world. Revolutions start with the poor, so I think we’ll likely see trouble in the South first.

  • “No one knows if this Jesus Christ existed, and if he did, NOTHING is known about him!”
    “WHY I AM NOT A CHRISTIAN” Bertrand Russell 1928

    • rmc9

      …he probably found the truth in hell…where he will be for ever…please don’t make the same mistake…

      • “I don’t think that Jesus Christ was a historical person, but if the French people wish to keep believing, I won’t be against them!”
        Napoleon Bonaparte as quoted by General Charles Dupuis (expedition to Egypt 1806

        • rmc9

          …they are both, probably ‘enjoying’ the same cell in hell…

        • robert

          Once again, Napoleon never existed. He was a made up character. The French have a mass delusion. Mr. Russell would have to agree since he did not know this character Napoleon personally. I reject all historical accounts concerning Napoleon because I want to not believe he existed. So, we are even. You do not believe Jesus Christ existed and I do not believe Napoleon existed. I won’t believe until I see it for myself or Napoleon rises from the dead and proves who he is.

      • nobody

        Too bad then that there is no hell to begin with.

        • algol2000

          Hell is when you are separated eternally from The Source of Life. It is like being shunned by one’s biological parents.

          • rmc9

            google it…see who’s been there for a quick visit…

          • nobody

            I did it’s just a bunch of conmen.

          • GSOB

            Deuteronomy 32:39

          • nobody

            Yea, like i would believe some conmen to tell the truth. BTW stop using the buybull to prove that the buybull is truthful, that’s circular reasoning.

          • GSOB

            ‘buybull’
            You don’t know how to spell bible and yet slander Christians and the bible.
            You got some serious problems. You hide behind your keyboard somewhere on this planet and show us your strokes of genius, but – we all can discern, you are a fool in need of salvation.

            I pray the Lord will grant you mercy.

          • nobody

            But i do know how to spell it the way it deserves, hence the spelling i use.
            And no, i don’t need any salvation since i don’t suffer from any mental disease that would make me believe i would need it.
            Why would i go away from a public forum? Don’t like what i have to say? Go to a closed religious one and be among your fellow sufferers.

          • nobody

            My source of life are my parents. Are you trying to tell me that you’re a biological miracle, a person created out of mud instead out of a woman?

          • algol2000

            The woman that gave birth to us will die, and so shall we. Have you ever wondered why we do not anticipate death? Because this soul that we are never dies.

            And if this soul never dies, it means we do not originate from our parents. We do originate from a higher power.

          • nobody

            But we do, we all know that we will die someday. And no, there is no such thing as a soul, otherwise you wouldn’t have been able to sleep a single second in your entire life.

          • GSOB

            1 Samuel 2:6

          • nobody

            Nah, that’s just an incorrect supposition of some bronze age goat-herders.

          • GSOB

            Says who…. you?
            You are nothing but an immature
            person who has nothing better to do but to mock the Lord, His people and His word.
            Get a life.

          • nobody

            You deserve all the mocking you get, you’re an adult still having imaginary friends for Cthulhu’s sake.
            I already have one, that’s why i don’t have to rely on a fake god to make it worth something.

          • GSOB

            Hosea 6:1

          • nobody

            Nah, i’ll trust the medics, thank you very much.

          • GSOB

            Not even close.

        • jsmith

          No, there isn’t a literal hell, but there is a hell that Americans experienced in the depression of the 1930’s, and if the situation in this country deepens, we will experience as well.
          Interestingly enough, I recall my dad (1908-81) telling me that times were bad for a lot of people, though he and his family were employed, while neighbors came to sell their homes at ridiculously low prices. People just did not have money.

        • GSOB

          Revelation 1:18

          • nobody

            You have nothing other than this obvious bs?

          • GSOB

            The only ‘bs’ is you. Be careful how you hear!

          • nobody

            Well, the fact that you believe that it’s true doesn’t make it less bs than it is.

      • Guest

        Absolutely. There are no atheists in hell.

    • Robert

      Based on Russell’s biased logic, we cannot know if anyone existed before the age of photography and even that would be suspect. I also suggest you research available material that confirms at a reasonable level of proof that Christ did in fact exist. The problem with atheists and agnostics is that they never accept “reasonable” proof. Their threshold for proof is a moving item.

      • …that is why the “Age of Reason” came into existence, as secular humanism believed in logic not fairytales, such as this…………..Jesus Christ guy!

        • Robert

          As I said, no amount of historical proof will satisfy someone committed to not believing. Logic has nothing to do with it. Napoleon did not exist. Voltaire did not exist. The “age of reason” never happened. It is all fantasy made up by imaginative people.

          • NomenDubium/InfractusRecordus

            amen brother.

        • Well, if people look for someone called Jesus Christ, sure they will not find it.

          He was an Hebrew from the tribe of Judah. In Roman times, His name would have been Hebrew or Aramaic (Yeshua, Yahshua, Yehoshua – something near that pronunciation.) Under those names you will find plenty of people because it was a mainstream name.

          As for the Christ part. It is not even part of His name, since it is a title. They had no family name in those days. He was just “Yeshua bar/ben Yoseph” (Yeshua son of Yoseph) – There was no Joseph and Mary Christ

          It simply is “Yeshua ben Yoseph, HaMassiach” – in current English – Jesus son of Joseph, The Messiah” Yet, they did not speak much English in those days…

          Just my two cents 😉

      • Plextt .

        I wonder why it is that Atheists tend to lack the psychological need to gain support?

    • Free_man

      bilge

    • NomenDubium/InfractusRecordus

      so jewish historian josephus didn’t refer to Him by name, and 15 of his disciples and apostles died horrible deaths for a make believe character?–riiiiiight.

      so we have the first hand accounts/testimonies of at least 16 people here. prolly more but that’s good enough for me.

      blood is thicker than ink/typing.

      • NomenDubium/InfractusRecordus

        put your money where yo mouth is..
        spill your blood where yo mouth is..

        which one costs more?
        which one echoes for eternity?

        the martyrs blood,
        not the rich man’s dollar.

        • rmc9

          …I think we are arguing with satanists….

      • nobody

        No, he didn’t – those passages have been proved to be dark ages monk forgeries.

        • John Byde

          Where’s Dan Brown when you need him :)!

          • nobody

            Probably reading the same scientifical papers as i.

      • Z.M.

        Don’t waste your time, these worthless cockroaches have got their minds made up and there’s no changing them. It generally comes down to them wanting to live as filthy disgusting beasts with no moral restraints whatsoever. They follow Aleister Crowley’s teaching “do as thou wilt will be the whole of the law”. They ought to be treated like the good for nothing beasts they are, locked into zoo enclosures and tossed some half-rotten vegetables and fruit once a day, with a pond to get down on all fours and drink from.

        • hereugo

          Well I guess we could all be like the duggars and sin and then ask for forgiveness after the fact and hide behind the excuse that we are all sinners. Where is the power in a salvation conversion if you have to make the choice not to sin after getting saved?

          One could argue that you held the power to act moral or immoral all along and that it is you that makes the choice. Not god and not the devil.

          • Z.M.

            You make a good point which demonstrates well one of the main errors of Protestantism. I’m Roman Catholic myself, the teaching of the Catholic Church is that no one can be sure of salvation in this life. Protestants who run about telling everyone that they’re “saved” evidently believe themselves to be better than St. Paul who wrote “Wherefore, my dearly beloved,(as you have always obeyed, not as in my presence only but much more now in my absence) with fear and trembling work out your salvation.” Philippians 2:12. One can only be saved if one is in the state of grace at one’s death. Protestantism has always tended towards antinomianism because of the error which maintains that faith is all that is required for salvation, and one can dispense with good works if they be found burdensome or distasteful. This contradicts Holy Scripture also: “For even as the body without the spirit is dead: so also faith without works is dead.” Epistle of St. James 2:26. This is why Luther wished to remove the Epistle from his version of the Bible, as it quite clearly refuted his pernicious innovations.
            Before any Protestants come back screaming about the horrors that have taken place within the Catholic Church during the past fifty years, I’m well aware of them. They are a result of God’s Chastisement of the great multitude of bad and lukewarm Catholics. Because they despised His graces and refused to do penance He withdrew His graces and left them to themselves. We all know what followed. The Church is now riddled with Masonic and Communist infiltrators and useful idiots influenced by them. Something similar happened in the 4th century with the Arian heresy, and just as that doctrine of demons was eventually suppressed, so will the modern plague eventually be dealt with by Providence in our own times.

          • whay

            The catholic church is a favorite among italian american criminals. Kill people Monday through Saturday and ask for forgiveness on Sunday.

          • GSOB

            You are very unclear, confused and a ‘roman catholic’
            The just will live by faith. PERIOD

          • Z.M.

            I didn’t say that God willed it idiot. Judas priests like them would ideally be tried by an ecclesiastical court, defrocked and handed over to the saecular arm for execution. You sectaries make up your religion as you go along, but unfortunately so do most so-called “Catholics”, otherwise they wouldn’t contracept and vote for Bongo the Communist and so on. If something pleases you, you believe it, if it doesn’t you don’t. In other words you dare attempt to dictate to God rather than humbly accepting His Religion as He revealed it. The Saints of the first centuries believed in the Real Presence and had devotion to the Immaculate Mother of God. They didn’t know Luther, Calvin and other such filth, but they did know Christ.

          • Z.M.

            I’ve been reading over your commenting history gsob, and I see that you are at least not a Jew-lover, so I’m sorry for calling you an idiot. Again, I didn’t mean God willed the abominations, but that so many of the clergy and laity have become apostates or heretics that God saw that they despised His graces so He stopped sending them any and left them to themselves. The results were what St. Paul wrote of in the Book of Romans 1:21 to 1:32.

          • GSOB

            God does not use a hiding queer to fornicate with a young boy in order to teach that boy a lesson.
            I’m sorry….. that just doesn’t fly.
            The roman catholic church forbids marriage for their priest.
            That says it all! Let’s go get some strange flesh then….
            That is not God’s chastisement. That is man’s evil. Man meant it for evil. PERIOD.

      • freud

        “so jewish historian josephus didn’t refer to Him by name, and 15 of his
        disciples and apostles died horrible deaths for a make believe
        character?”

        Why wouldn’t you expect a person to die because of something they believed in whether real, made up or believed to be real?

        We have soldiers fighting wars under the guise of keeping the US free. Which is totally made up and a complete fabrication. After all it is not quite as noble to fight to keep corporate fat cats wealthy and in power.

        So why not people dying for a man named jesus because they believed his message? Jesus was just a human being like you and I. The fact that he had a following of some just shows that yes there will always be someone willing to go along with your cause and die for it.

        If you went back in time and saw firsthand the truth about jesus and his ministry you would be 1. shocked and 2. angry. After all no one likes to acknowledge that they have been duped and tricked and that their whole belief system is based on lies.

        Of course the American people love to be lied to and will viciously defend all the propaganda that they have been feed from grades k through 12 and then from the mainstream media.

        This is the reason there will never, ever be real change in the world. Because people would rather be comfortable in the lies then uncomfortable in the truth.

        I understand the whole comfort zone thing completely. It is why some long term criminals when paroled will commit another crime to go back to jail. It is all they know and the unknown is too scary or too unstable to even consider doing something different.

    • nobody

      Yes, you’re correct, but what this has to do with the story in this article about US recession?

      • ..,cause religion is used in America to console the unemployed and to make a lot of $$$$$$!=

        • nobody

          Again, what has that to do with this article?

          • GSOB

            What do you care? You are here to mock Christ and those who are His.
            Either you repent and cry out to God for mercy or you will die in your sins.

          • nobody

            No, i’m here to get informed, not to listen to your delusions. And no, i will not do no such thing because i’m not insane.

      • GSOB

        Job 5:18

        • nobody

          And what has that to do with the economy?

          • GSOB

            More than you know.

          • nobody

            Well, since i don’t suffer from any of your delusions i most likely don’t.

    • John Byde

      Poor sap. And Bertrand Russell.

    • Catman

      You should spend some time visiting with hospice patients as I do nearly every day. Just this week a lady very near death told me she has recently seen Jesus among a few other relatives that have already passed. Though she is suffering a lot her face broke into a smile as she related Jesus was very gentle, had all the time in the world for people, and reminded her not to forget He died on the cross for her. That was it. I believe Bertrand Russell has met Him by now too. BTW: She’s not the only one I have talked to that said they have seen Jesus. It would appear He does exist. I am not a very religious person, but I am a believer, and these people are at a point in their life when there is very little reason to lie. Just something for you to consider. You’re right, time does flee, but once we pass there is no more time as we understand it. Just one eternal now.

      • ..people in distress see all kinds of dreams! Jesus never existed!

        • GSOB

          No, you got it wrong Tempus Fugit.
          Jesus lives in all His believers by His spirit and you are among the walking dead because He has no part with you.

          • …that wasn’t a very nice comment to make! Jesus has NOTHING to do with ANYONE, as……………………………………….. ….Jesus NEVER existed!

          • GSOB

            John 3:6
            Flesh gives birth to flesh, but the Spirit gives birth to spirit..

            ……but whenever a person turns to the Lord, the veil is taken away.

            Now the Lord is the Spirit and where the Spirit of the Lord is, there is liberty.

            But we all, with unveiled face, beholding as in a mirror the glory of the Lord, are being transformed into the same image from glory to glory, just as from the Lord, the Spirit.

    • alan

      I have found through life that most stories have truth in them. They came from somewhere, someone seen something to make them important enough to write down. Just say’n.

  • Patriot One

    6 years of prosperity is just around the corner propaganda and most believe it. Just by the number of years that have passed we’re due for another recession. Here’s a bullet of truth, there was never a recovery just propaganda of recovery. Let’s be truthful we in a manipulated depression and the central banking cartels are out of bullets. The only thing they can do is print money, we all know how this story is going to end.

    • retired22

      Patriot,I believe you have it right!
      The financial establishment is in the same shape as some guy who is on death row in prison,convicted of mass murder! The only reason he hasn’t been executed after his conviction is because of legal appeals that could go on for years.Likewise,the financial sector has kept our economic corpse up & animated this long on appeal,on financial tricks which seem to be out of Alice’s Wonderland.
      The Appeals process has just about run out on our moribund economic system,…the bankers have run out of tricks!

      !

      • Patriot One

        While their out of tricks funny money can work for a long time as long as they keep printing and have reserve status. It’s been working since 1972.

        • alan

          Your 401k looks real nice now! They want to go to cashless which is another trick to make more money off of us. They still have a bunch of funny stuff they can pull. I suspect we could see paying for a lot of services now.
          Need a firetruck, whats your credit card number, First grade will cost $100 this year and $200 next year, “Its for the children”.

    • Mondobeyondo

      And as President Hoobert Heever would say, “Two chickens in every pot”…

  • ”NASA ENGINEER CLAIMS JESUS CHRIST NEVER EXISTED!”
    ..Michael Paulkovich (Nasa systems engineer and student of ancient history) claims that out of 126 authors who lived at the time of this supposed Jesus, not ONE of them mentions him!” Paulkovich says that jesus was some urban legend!
    see Paulkovich’s book….”NO MEEK MESSIAH”

    • robert

      Well, that is not true on its face. However, we all know that NASA lies. The moon landings were staged on a hollywood set. All fake. Oddly enough, a number of astronauts who supposedly went to the moon also believed in Jesus Christ. So, I should think their opinion is as good as the engineer in question. I am also a student of ancient history and have diplomas so stating. So, my opinion for my purposes is as sound as some NASA engineer. Absence of comment by a writer does not confirm a thing. That is not logical to claim that absence of statement is proof.

  • Wheeladeala

    I have a boat load of stuff to sell

    • Flippah

      Whatcha got?

  • RICHARD

    Sorry but I don’t agree, were in a depression and have been for at least 7 years. Next step is a state of lawlessness. Then it is going to get Ugly.

    • nobody

      That’s where you are wrong, there will be no lawlessness around, instead you will get the most terrifyingly law enforced dictatorship. And that’s because people will always chose a leadership, no matter how bad it is, instead of anarchy.

      • l jess

        You read the bible also – One leader to “protect” us – such protection comes at a heavy price.

        • nobody

          Most deem that price reasonable and smaller than the alternative.

          • l jess

            That is usually because they only see the front end price – promises of peace and whatever else sounds good – they do not see the final price when they are slaving in chains.

          • nobody

            You would be amazed on how many people prefer a comfortable and secure life in chains to a of dying in squalor but free life.

          • I agree with you.

            In many ways, what is happening is not completely new. Historically it has been observed already and defined in a cycle named after a Scottish historian Alexander Tytler – The Tytler Cycle.

            Although we could maybe refine it, it goes something like this

            From Bondage –> Spiritual Faith –> Courage –> Liberty –> Abundance –> Selfishness –> Complacency –> Apathy –> Dependence –> Back to Bondage. And the cycle goes on again

            As far as I can see, it is not proper to the US, but it is probably stronger in the US in these days. With the Kardashian, American Idol things, etc, etc, the Entitlement Program now in place, excess of Immigration, we can say that we are in the last part of the cycle. So, the demand from the people of some sort of strong order in exchange of their basic liberty is logical.

            Historically it is not a new concept (see Europe’s and China long History), but it is certainly new for the US

          • nobody

            Unfortunately it’s not new for the US – this mentality has been present in numbers since the Great Depression and prevalent since the sixties.

          • GSOB

            AND fools like yourself have been around much longer than that.

          • nobody

            Yes, we realistic persons have always existed, you got that right.

          • GSOB

            You don’t know the sinfulness of sin.
            PERIOD

          • nobody

            Why should i know what you imagine when i don’t have the capability of mind reading? It’s your own brain after all, you can imagine everything you want with it.

          • l jess

            Just so we have no misunderstanding – the one leader to “protect” us is not Jesus Christ but is the anti-Christ trying to dominate.

          • nobody

            Nah, just a power hungry politician, since both of your options aren’t real.

      • alan

        The more you tighten your grip, the more star systems will slip through your fingers. Princess Leia.

        • nobody

          See, that’s where you got it wrong: you believed that fictional stories represent the truth instead of the author’s dreams.

          • GSOB

            You are a dreamer.
            That’s for sure.

          • nobody

            Nah, i just know how to use my education properly. If you would have had one maybe you could have done the same.

      • jox

        As in Rome. You will become an Empire.

      • GSOB

        By what standard?

        • nobody

          History and pretty much every single poll taken in the last half a century.

          • GSOB

            Children of God

            Little children, make sure no one deceives you; the one who practices righteousness is righteous, just as He is righteous; the one who practices sin is of the devil; for the devil has sinned from the beginning. The Son of God appeared for this purpose, to destroy the works of the devil.
            No one who is born of God practices sin, because His seed abides in him; and he cannot sin, because he is born of God.…

  • JailBanksters

    The usual thing, you pick a number you want it to be, then you create the Formulae to get to that number. Much like how the stock market and IPCC works.

    • Maneb

      Plus global warming!!!

      • JailBanksters

        That was the IPCC bit

  • Guest

    Thank you for all your work to get this information to us. I took ap macro Econ (a very basic college introductory class) this year and realized it doesn’t take a genius to understand that a lot of our fiscal and monetary policies may not help us out too much longer. Do you have any suggestions on how an entering college freshman could prepare for this fall/September? I do have a small garden, but I cannot pack that in my suitcase! Thank you for your time!

    • algol2000

      Get near the coast the country side with lots of arable land, hire people and start farming. There will be food shortages.

  • alan

    Its all the same event triggered in 2008. We have some good days but mostly bad days. This will continue on until it doesn’t. It will either violently implode or we’ll all be choked out.

    The more we piss off the world the more they will want to see us eat each other. Not likely anyone will come to our aid.

  • CharlesH

    Michael, you do sound like a broken record…but that’s only because our economy is NOT getting any better – it keeps sliding backward! Thanks for your hard work and truth telling – keep up the awesome job – we need you out here!

    • Nemnor

      “Truth’ will ALWAYS sound like a “broken record”, as it is ALWAYS first denied, then rejected (when it is obvious), and even then, people are afraid to take action according to what they know (or come to know) is “true”.

      I posit that the real and ONLY solution for the USA and the World is a fundamental change away from the current world-wide Capitalist economic system, to a sustainable alternative system that addresses the abundant needs of every “rational’ individual. BUT, not enough people are aware of that “truth” as yet (and, especially as that “truth” is upon a very complex matter and requires a lot more “details” to go with it, it will, for now, sound like a “broken record”).

      • GSOB

        I get tired of reading your cut and paste kwap.

        “the real and ONLY solution for the USA and the World is a fundamental change away from the current world-wide Capitalist economic system, to a sustainable alternative system that addresses the abundant needs of every “rational’ individual


        What would you call that so called fantasy “sustainable alternative system”
        You are lost.

  • Maneb

    Gov’t statistics???? Har har har! Have you heard the one about the booming North Korean peoples’ paradise? But wait, America is transforming into…..????? You connect the dots.

  • Rukander

    “Why can’t they just give us honest numbers?
    Meanwhile, we also learned on Friday that corporate profits declined again during the first quarter of 2015.”.

    Why ? Because, hey are more rich every day.

  • Joss

    Our dilemma is this is not a Recession …… It is Depression ….. Take away Social Security, Food Stamps and Disability Insurance all paid by the Government with our tax dollars and paper money creation and you have the 1930s with Soup kitchens, no work and no hope !
    The only difference is Government Handouts. The Government doesn’t have the answers and neither does the FED or Wall Street. Our unemployment problem is functional ….. Partly due to our consumption society which is dying and progress which is and will further reduce jobs in the future. The government knows this but will never admit it yo the public ….. All hell would break lose so we live with the lie that things are going to get better ….. They aren’t ….. We have entered an era of economic, financial, social and morals upheaval …… It will shape our society for years to come ….. Nothing will be the same in 10 years that is our fast things will change once the change accelerates ! Get ready for a wild and difficult ride ……,

    • Torn Frequency

      Yes Joss. Most of it is true, to a degree, but as for the goverment handouts, their not handouts. People pay tax for a reason, now what is a handout is the immense amount of tax money that goes from the benefit of the country right into the pocket of some politicians, military leadership, and defense contractors, the greed in both corporate and the political society is what is destroying it all, not technology, technology is only there to help if it is utilized in a correct fashion. Long ago in europe, you could work for half a year, and have enough to keep your family fed for three years, guess what they did with all that free time? you got it right.. they created art, and focused on science. Now its 2015 and you have to be grateful if after a month of work you have enough to scrape by for half a month of food. The issue is not if robots take over our labor, the issue is how will we feed our children or ourselves with a system that only benefits the top and not the bottom. Sure it would be a wild ride.. a wild ride too for those in power, because i can pretty much predict that after the dust settles, they won’t be the one’s in power, maybe some other..crazies, doesn’t matter though. The gov is going to have a harder time if they don’t start focusing on winning back trust, and work on making the system healthy again.

  • Mondobeyondo

    I wish the government would just tell us the truth about the economy (among many other things).

    Unfortunately, that is unlikely to ever happen in this Alice in Horrorland world we live in. So we had best get accustomed to reading between the lines. When the government tells you “everything is well”, that’s when you prepare for the worst.

  • Mondobeyondo

    Everybody relax! Everything is fine!
    More jobs are being created every day. Relations with Cuba are improving by the hour. Islamic State is on the verge of defeat. All we have to do is send 100,000 more U.S. troops to Iraq. (Let’s call it “Operation Desert Conquest – This Time for the Win!”) America is still the land of endless prosperity! Does anyone actually still believe that garbage?
    “One pill makes you larger, and one pill makes you small
    And the ones that mother gives you, don’t do anything at all
    Go ask Alice, when she’s ten feet tall…”
    — “White Rabbit”, Jefferson Airplane

  • Jim Clark

    When do we start counting narcotics sales and prostitution in the GDP?

    • jox

      As in Europe? Nah, that would be ‘socialism’ :)

      • Nemnor

        jok, it is ‘socialism’ as you choose to label it, but which is really CAPITALISM in one of it’s DECADENT forms (but which you erroneously labeled as ‘socialism’).

        The ESSENTIAL characteristic of a Capitalist economy is – the Private and/or State ownership of the means of production and distribution of goods and services, with the primary end-purpose of making a profit (surplus value), through employing/enslaving the labor/efforts of Workers/People.

        This essential characteristic of CAPITALISM, as stated above, is true for EVERY country in Europe, and particularly so, as the economy of every European country is mostly private ownership of the means of production and distribution of goods and services. (right?)

        • GSOB

          here we go again.

          ad nauseam

  • toadsticker

    Denny Hastert comes to mind. Here is a guy that was a high school wrestling coach making, what? maybe $35,000 a year. Then he becomes a US Congressman and retires owning a huge farm in Illinois and a bank account big enough that he can agree to pay a male student that he had sexual misconduct with $3.5 million. I don’t agree with the government tracking people’s money, but this guy is a scumbag. All of the Democrats are scumbags and 99% of the Republicans are scumbags. All of them take from the hard working middle class citizens of this country while feathering their own nests and enriching themselves. They’re all in it together. They act as if they know something that we don’t and it’s much too serious to tell us because WE CAN’T HANDLE THE TRUTH. Well we can handle the truth and their precious little secret is that they are lying and swindling us all for the sole reason of putting money in their pockets and living the good life which is provided by our hard work and effort. Mitch McConnell, John Boehner, John McCain – Scumbags. The established Republicans are scumbags and I can see a lot of the younger conservatives turning into scumbags right before my eyes. It’s like when they get elected a senior representative takes them aside and says, “OK, you won your election and you have high ideals. Now, that you’re here, this is how we play it. If you do it our way you’ll be re-elected over and over and retire a rich man. If you don’t play our way we’re going to do everything we can to make sure you lose your next election. Hey, the big secret is to get other people to make you rich, while they think you’re helping them.

  • Travis

    Good post!

  • chilller

    Interesting how the gov keeps importing immigrants while exporting jobs. The foreign element are conditioned by their roots (gov) to accept whatever they are told and are diluting general consensuses of REAL Americans…just what gov wants. Before long…true patriotic descendents of our beloved country will be out numbered and considered rogue elements.
    So consume the gov blather at your own peril….soon, we’ll all be the dissidents from within our own country. No other country on earth would allow this to happen….but our generosity and monicker as The Melting Pot, while a noble notion, will be our undoing…

  • FortuneSeek3rz

    Productivity in the U.S. decreased at a 1.9% annualized rate in the
    first quarter, following a revised 2.1% drop in the prior three months,
    according to the Labor Department. This marks the largest back-to-back decline in more than two decades. Expenses per worker increased at a 5% pace.

  • CharlesH

    A recession within a recession or a recession that never ends wouldn’t be a depression would it?

    • FortuneSeek3rz

      During the Great Depression there were actually quarters where GDP posted an increase. So what we’re in is a depression it seems.

      • CharlesH

        It absolutely does seem like we’re in a depression today. We don’t have soup lines but we have 50 million people on EBT/food stamps and around 95 million not even employed or looking for work – they’ve literally given up. The unemployment rate isn’t 5.4% as the BLS states but closer to 11% or possibly higher and rising. Stores are closing in huge swaths across this country. We’re at our lowest count in factories – ever. Companies are starting to show lower profits. Banks – fines for all kinds of illegal activities aside – are making record profits. This isn’t a recession or even a continuation of one – this IS a depression – 2015 style. Wait until the BIGGEST GREAT DEPRESSION hits us square in the face – be prepared the best you know how.

        • FortuneSeek3rz

          The stability of the U.S. economy is going to continue to depend on the demand for U.S. bonds and the U.S. dollar. Right now, in Venezuela, the black market for dollars is bringing profits many times more than the official exchange rate of dollars to bolivars. The rate on the 10-year is still at a very low 2.18%.

          One of the reasons the dollar has strengthened is because of the vast natural reserves of oil and gas that the fracking movement has brought forth. Cheap and available energy is a fundamental of any economy.

          While the U.S. certainly has many economic problems, the most pressing issues (the demand for dollars/bonds and the availability of cheap energy) are keeping international sentiment positive relative to the rest of the world. And for this reason the U.S. is still the global leader in a number of endeavors such as formal education, intellectual property and technological innovation.

    • df NJ

      A depression is a second level derivative of a recession.

  • df NJ

    The Fed has the gas pedal pressed to the floor and the engine still sputters. Sign….

    • Nemnor

      Exactly!! you ‘df NJ’!

      The reason the “engine” (system) can not get up to full speed/power (i.e. can not truly recover), regardless to the amount of “gas” they give it, is because the “engine” is decayed and decaying and needs to be replaced – and this time, replaced even with an “engine” that uses an alternative clean/renewable form of “fuel” – i.e. a fundamentally NEW type of “engine” (system) is required. (lol)

      • df NJ

        I meant to say “sigh” but my fingers types “sign”. I think “sign” works too!

      • GSOB

        engine….
        And you need to be born again.

  • Scared Economist

    Why does everyone keep saying “we will have soup lines”? WE HAVE THEM NOW…. only the government tries to keep them quiet and out-of-sight.
    Come to the back of our church on Tuesday and Thursday nights and you will see 40 to 50 people standing in line, rain or snow or heat, waiting for a box of food.

  • Nemnor

    The truth is, the USA, and virtually every country in the world, have been in an ON-GOING economic crisis, since the late-60s/early-70s – which was the end of the “reconstruction boom” following WW-II, and at a time when most of the leading Capitalist countries began to “catch up” to the USA, and compete for a bigger/better share of the virtually and practically LIMITED world “economic pie”.

    The crisis of 2007-2008 was simply a DEEPENED period of the same on-going economic crisis that began late-60s/early-70s.

    What is underlying this on-going economic crisis in the world-wide Capitalist system is a state of general over-production. Over-production makes it difficult for the Capitalist to sell their products/services for a (reasonable) profit. Hence, the reason the Capitalists feel “compelled” to (irrationally) engage in massive Share repurchase (or stock buyback) (to artificially raise the value of stocks), or (irrationally) invest in “financial bubbles”, “derivatives” and other exotic “financial instruments” (and with many of these “investments” having little or no relations to the real economy!!).

    Because the on-going world-wide economic crisis is rooted in a state of general over-production, the economic “interventions” of Governments and Central Banks will ALWAYS turn out “wrong” (eventually), as this on-going crisis is NOT fixable by economic means alone (and the result would basically be the SAME, even if Governments and Central Banks did not “intervene”).

    The real and only solution to this on-going world-wide economic crisis begins with a fundamental change away from Capitalism (“real”/”pure”, “free market” or not), to a sustainable alternative system that addresses the abundant needs of the “rational” individual (and not just of “the 1%”).

    • GSOB

      same old stuff huh…..

  • Michael, thank you for warning everyone with the cold hard facts in this article. I put a link to it on the new news portal. About 100 more people will see this report through it.

  • Patriot Alice

    If you have anything positive to write, the editor will just trash your comment or put it at the very bottom, This site is for the depressed only.

    • df NJ

      I don’t think’s that true. Certain words require the post to be approved. My experience with this site has been okay.

      Make sure you set the “Sort By Newest” to most recent.

    • AZFan

      This country will fall

  • Rob W

    What’s a little negative growth in this era of prosperity?

    • df NJ

      The Fed can always print more money.

      • Rob W

        … and they’ve proven it.

        • df NJ

          LOL!

  • Nemnor

    Mike, whatever you or anyone may find “wrong” about ‘jsmith’ (and I must personally look at more of his posts to know more about is thoughts), SOME of what he stated above, seem to show that he has a basic good insight into the national and international politics of some of the leading countries of the 19th century.

    Hitler, with his so-called “socialist” policies, did do some good for Germany (though Germany remained ESSENTIALLY a form of (State) Capitalist economy). However, Hitler also realize that “… German industry must expand (internationally), or die…” (and this was the main “driving force” that moved Hitler to “trigger” WW-II).

    However, the other leading economies did NOT want for Germany what they also wanted for themselves – as they ALL were also imperialist and also felt “compelled” to “expand or die”.

  • Enrique Gaitan

    I dare to remember you not all blame must be directed to President…nor purchased legislative and Judicial powers but to the ones have buy them and perverted your great nation. You know the meaning of “long term” and 4-8 years barely qualify as it. Meanwhile the Fed, Adelson…had have plenty of time to…planning. We ordinary people barely perceive events from a year at most. And fasten your seat belts, I feel “broken record” is correct. It is not my country…so I apologize writing like that. My country is under similar circumstances…criminals can not be so different only scales change. Yeah, it is an hideous fractal.

  • GSOB

    ad nauseam

  • GSOB

    Putin wants control of the entire source of oil. He has his military seeping in and is going to take over all of Ukraine just by sheer numbers and without much escalation.
    The majority of the people in Ukraine just want to be on the winning side so as to have some stability of life, not poverty and chaos.
    We are overseas fighting ISIS on different fronts for the oil. We’re there for our people to.
    Precious oil.
    Everyone needs it.
    All this killing because of the precious oil.

  • GSOB

    First…. I have been called much worse.
    2nd – Romans 4:1 > 3
    3rd – Learn to distinguish between the
    catholic church and the roman catholic church…
    They may appear to you to overlap and interface, or the being one and the same thing,…….
    they’re not.

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